Nova Scotia (NS), in recent times, has become a favourite destination to do business. With an abundance of natural resources, quality workforce, cheap and reliable transportation, advanced research and innovation, and good infrastructure, it’s easy to explore business opportunity in Nova Scotia. The Nova Scotia Entrepreneur stream is a business program where Nova Scotia Government provincial government nominates prospective immigrants who want to invest in a new business or want to purchase an existing business in Nova Scotia. The government invites individuals who are eligible by fulfilling all eligibility requirements and have registered under the program to apply, after which a two-year work permit is issued to eligible applicants to execute the business as planned. Successful candidates receive a nomination under the PNP and are allowed to apply for permanent resident status along with their dependents.
The Nova Scotia Government selects and nominates potential immigrants for permanent residence based on their ability to contribute to the economy in Nova Scotia. An applicant must meet the following requirements in order to apply for this program:
Ability to show a personal net worth of at least $600,000 CAD.
Should have a minimum of 3 years of business ownership experience with 33.33% ownership in the last 5 years or can have management experience as a Sr. Business Manager for at least 5years in the last 10 years
Should have a minimum of two years of post-secondary education to apply in the program.
Ability to invest at least 150,000 CAD out of the personal net worth of at least 600,000 CAD.
Demonstrates to create at least one permanent new full-time equivalent job for a Canadian citizen or permanent resident.
Must have English or French language proficiency equivalent to Canadian Language Benchmark (CLB) level 5 or higher.
Must operate a business in Nova Scotia for a minimum one year during work permit following nomination.
Must reside in Nova Scotia.
Once the candidate meets the eligibility criteria, the following is the standard process in order to move ahead with the application in Nova Scotia Entrepreneur Stream:
Step 1: Check every single aspect of the eligibility guidelines given by the Nova Scotia government for this program.
Step 2: Plan an exploratory visit to Nova Scotia. This visit is mandatory if you want to purchase an existing business in Nova Scotia.
Step 3: Prepare a business plan based on the exploratory visit and submit it to the government. Wait till the government reviews it. An approved business plan will help to file the application into this program.
Step 4: The Nova Scotia Entrepreneur Program’s application is submitted electronically. File an application and wait for the government to approve it.
Step 5: Successful applications are nominated and the Government may ask to attend a personal interview. After clearing the interview, Entrepreneur is asked to sign a performance agreement with the government as per the business plan submitted to the government.
Step 6: After signing the performance agreement, the Nova Scotia government will issue a two-year Canada Work Permit. The entrepreneur can live and work in Nova Scotia, with the entrepreneur’s dependents, while the work permit is in effect.
Step 7: The entrepreneur will arrive in Nova Scotia and needs to meet the conditions of the performance agreement. The entrepreneur will need to operate the business and create the required number of new jobs as per the agreement.
Step 8: After arrival in Canada with a work permit, the entrepreneur must submit a final report in a format specified by Nova Scotia Government. This report will give proof that the business person fulfilled all conditions of the performance agreement.
Step 9: After a final report is submitted and approved by the government, the entrepreneur may then apply for Canadian permanent residence under the Provincial Nominee Class.
Assistance by Winny Immigration:
With an experience of guiding more than 30,00,000 applicants, Winny Immigration will provide aid to the applicants at every step of application for Nova Scotia Entrepreneur Stream with respect to the guidelines from the province government and IRCC.